Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

After several years of study as a part-time student,Alex recently earned a degree in marketing at a local college.The growth in global markets may increase Alex's job opportunities,but it will also require him to continually update his skills or seek further education.

(True/False)

4.9/5

(40)

Question 21

As you consider the factors of production,which of the following did management theorist,Peter Drucker believe to be one of the most important contributing factors to increasing our nation's wealth?

(Multiple Choice)

4.8/5

(38)

Question 22

Susan quit her job in a big city to take a less stressful position in a small town located in a scenic area.She earns less money at her new job and has had to cut back on her purchases of material goods,but she has more leisure time and really enjoys the clean air and scenic beauty of her new home.Susan has accepted a lower standard of living in order to enjoy a higher quality of life.

(True/False)

4.8/5

(38)

Question 23

Stakeholders are all the people who stand to gain or lose by the policies and activities of a business.

(True/False)

4.8/5

(33)

Question 24

The customers,employees,stockholders,suppliers,creditors,and others who stand to gain or lose by the policies and activities of a business represent the firm's:

(Multiple Choice)

4.9/5

(44)

Question 25

Improved distribution systems have led to more global trade.

(True/False)

4.9/5

(40)

Question 26

Since all businesses make a profit,starting a business is not risky.

(True/False)

4.7/5

(26)

Question 27

Outsourcing means selling goods and services to people in other countries.

(True/False)

4.8/5

(27)

Question 28

Nolivia is a small and poor nation,but its current president has a genuine desire to create more wealth for Nolivia citizens.The president has received recommendations from several of her advisors.Which of the following recommendations is likely to create the most wealth for Nolivia?

(Multiple Choice)

4.9/5

(31)

Question 29

The continuing increase in the number of U.S.workers in the service sector means that more and more workers are employed in low-wage positions.

(True/False)

4.8/5

(33)

Question 30

Planet Earth Developers is a large nation-wide construction company with home offices in Lansing,MI.The local media often remarks about the pristine landscaping that surrounds the home office that sits on a 30-acre complex.At the back end of the complex are several large warehouses and garages that hold large equipment.The grounds surrounding these warehouses look like a well-maintained park.Across the street from the garages are several shops and businesses.The CEO,"Planet Paul" (as his employees call him),often talks about how thankful he is that the town permits him to store the company equipment at that site,and vows to always maintain the premises for his neighbors (the other businesses that thrive in that area),not to mention that he asks 100 employees to come to work there everyday.Which of the following statements describes Planet Paul's business philosophy?

(Multiple Choice)

4.8/5

(30)

Question 31

Shelby recently started selling her invention: A bed that looks like it floats in mid-air.The bed is actually suspended by magnetic forces.Shelby is a(n):

(Multiple Choice)

5.0/5

(37)

Question 32

Since businesses strive to earn a profit,their owners benefit at the expense of the rest of society.

(True/False)

4.9/5

(33)

Question 33

Jay and Jim Spears own a lawn irrigation system business.They perform installations and maintenance of these systems.Several of their customers are golf courses,but they serve a large group of residential customers as well.When they started the business ten years ago,they made a pact to always operate within the legal limits of the law,but lately,the competition is eating them alive.Local competitors have hired illegal immigrants to perform the manual labor.They do not pay taxes on these employees - they just pay them in cash at the end of the week.Employment taxes are a burden for small businesses.Jay and Jim do not want to hire illegal workers.There's a risk if you permit an illegal worker to drive a truck;or,if he/she has an accident on the job.You have just studied business ethics in your class.You inform this partnership that:

(Multiple Choice)

4.9/5

(31)

Question 34

The growth of Hispanic owned businesses:

(Multiple Choice)

4.8/5

(40)

Question 35

World-class businesses attempt to meet the needs of:

(Multiple Choice)

4.8/5

(30)

Question 36

Insourcing creates new jobs,and helps offset the number of jobs being outsourced.

(True/False)

4.7/5

(41)

Question 37

The global environment,

(Multiple Choice)

4.8/5

(42)

Question 38

Insourcing refers to the practice of global companies setting up design and production facilities in the United States.

(True/False)

4.8/5

(33)

Question 39

A(n)____________ is a person who assumes the risk of starting a business.

(Multiple Choice)

4.7/5

(42)

Question 40

Showing 21 - 40 of 328

After several years of study as a part-time student,Alex recently earned a degree in marketing at a local college.The growth in global markets may increase Alex's job opportunities,but it will also require him to continually update his skills or seek further education.

As you consider the factors of production,which of the following did management theorist,Peter Drucker believe to be one of the most important contributing factors to increasing our nation's wealth?

Stakeholders are all the people who stand to gain or lose by the policies and activities of a business.

The customers,employees,stockholders,suppliers,creditors,and others who stand to gain or lose by the policies and activities of a business represent the firm's:

Improved distribution systems have led to more global trade.

Since all businesses make a profit,starting a business is not risky.

Outsourcing means selling goods and services to people in other countries.

Nolivia is a small and poor nation,but its current president has a genuine desire to create more wealth for Nolivia citizens.The president has received recommendations from several of her advisors.Which of the following recommendations is likely to create the most wealth for Nolivia?

The continuing increase in the number of U.S.workers in the service sector means that more and more workers are employed in low-wage positions.

Shelby recently started selling her invention: A bed that looks like it floats in mid-air.The bed is actually suspended by magnetic forces.Shelby is a(n):

Since businesses strive to earn a profit,their owners benefit at the expense of the rest of society.

The growth of Hispanic owned businesses:

World-class businesses attempt to meet the needs of:

Insourcing creates new jobs,and helps offset the number of jobs being outsourced.

The global environment,

Insourcing refers to the practice of global companies setting up design and production facilities in the United States.

A(n)____________ is a person who assumes the risk of starting a business.

Understanding How Economics Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

How to Form a Business

Entrepreneurship and Starting a Small Business

Management and Leadership

Adapting Organizations to Todays Markets

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Employee-Management Issues and Relationships

Marketing: Helping Buyers Buy

Developing and Pricing Goods and Services

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money, Financial Institutions, and the Federal Reserve

Appendix A: Using Technology to Manage Information

Appendix B: Managing Risk

Filters